LSV Asset Management Lowers Stock Holdings in Travel + Leisure Co. (NYSE:TNL)

LSV Asset Management reduced its position in Travel + Leisure Co. (NYSE:TNL) by 3.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 553,509 shares of the company’s stock after selling 18,800 shares during the period. LSV Asset Management owned about 0.76% of Travel + Leisure worth $21,637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in Travel + Leisure by 34.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,737,814 shares of the company’s stock worth $63,830,000 after buying an additional 447,938 shares in the last quarter. Vanguard Group Inc. grew its position in Travel + Leisure by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 10,255,690 shares of the company’s stock worth $376,691,000 after purchasing an additional 322,624 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Travel + Leisure by 747.6% in the third quarter. Hsbc Holdings PLC now owns 159,662 shares of the company’s stock valued at $5,864,000 after purchasing an additional 140,826 shares during the period. Retirement Systems of Alabama increased its stake in shares of Travel + Leisure by 87.9% in the fourth quarter. Retirement Systems of Alabama now owns 281,799 shares of the company’s stock valued at $11,016,000 after purchasing an additional 131,796 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Travel + Leisure in the third quarter valued at approximately $2,661,000. 87.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Travel + Leisure from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Barclays raised their price target on shares of Travel + Leisure from $44.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Mizuho initiated coverage on shares of Travel + Leisure in a research note on Tuesday, March 26th. They issued a “neutral” rating and a $55.00 price target on the stock. Finally, JMP Securities initiated coverage on shares of Travel + Leisure in a research note on Tuesday, February 13th. They set an “outperform” rating and a $50.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.83.

Insider Buying and Selling

In related news, insider James J. Savina sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $45.18, for a total value of $677,700.00. Following the completion of the transaction, the insider now owns 15,860 shares of the company’s stock, valued at approximately $716,554.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider James J. Savina sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $45.18, for a total value of $677,700.00. Following the completion of the transaction, the insider now owns 15,860 shares of the company’s stock, valued at approximately $716,554.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kimberly Marshall sold 4,953 shares of the firm’s stock in a transaction that occurred on Sunday, March 10th. The stock was sold at an average price of $45.24, for a total transaction of $224,073.72. Following the completion of the transaction, the insider now directly owns 54,657 shares of the company’s stock, valued at approximately $2,472,682.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,922 shares of company stock worth $1,318,358. Corporate insiders own 4.02% of the company’s stock.

Travel + Leisure Price Performance

NYSE TNL opened at $45.46 on Tuesday. The firm has a market capitalization of $3.24 billion, a PE ratio of 8.37, a P/E/G ratio of 2.51 and a beta of 1.63. Travel + Leisure Co. has a 12 month low of $32.10 and a 12 month high of $49.02. The company’s 50 day simple moving average is $45.73 and its 200 day simple moving average is $41.09.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, April 24th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. The firm had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $904.54 million. Travel + Leisure had a net margin of 10.54% and a negative return on equity of 44.34%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. Sell-side analysts anticipate that Travel + Leisure Co. will post 5.52 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.40%. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, March 20th. Travel + Leisure’s dividend payout ratio (DPR) is presently 36.83%.

Travel + Leisure Profile

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.